Insureds victimized by the Deepwater Horizon disaster are being warned that some carriers are planning to enforce contract provisions that they be notified of losses by July 8, according to Marsh.
Brown & Brown said it has acquired Meridian Group of New York Inc. and Eberhart & Company Insurors Inc. of Roswell, Ga. Financial terms of the transactions were not released.
But whenever losses of such magnitude present themselves, be they from hurricane, tornado, flood or hail, at least those of us in the risk management world should be asking, "What about insurance?"
President Obama signed into law an extension of the National Flood Insurance Program (NFIP) until Sept. 30. The bill is H.R. 5569, the "National Insurance Program Extension Act of 2010."
American International Group Inc. (AIG) is now free to proceed with a lawsuit alleging other insurers conspired to underreport workers' compensation premiums, which the company said skewed the market.
At one time, growing the insurance business was all about selling more policies, but it's become more complicated with multiple distribution channels, customer retention issues, and investment strategies.